Rs 4.79-trillion UP Annual Budget tabled; 600 cr allotted for cow shelters

Rs 4.79-trillion UP Annual Budget tabled; 600 cr allotted for cow shelters Budget size swells 12% yet fiscal deficit below mandated 3% of GSDP

Budget News: Yogi Adityanath government Thursday tabled Uttar Pradesh (UP) Annual Budget 2019-20 of more than Rs 4.79 trillion,

which is almost 12 per cent higher than current year’s Budget of nearly Rs 4.28 trillion.

The state, however, followed the fiscal discipline path and tamed fiscal deficit at Rs 46,910 crore or 2.97 per cent, which is within the mandated three per cent of the gross state domestic product (GSDP) under the Fiscal Responsibility and Budget Management (FRBM) Act. The government has estimated revenue receipt of Rs 77,640 crore from state goods & services tax (SGST) and value added tax (VAT).

The excise duty kitty in 2019-20 is expected at a healthy Rs 31,517 crore.

Considering this is an election year with Lok Sabha polls a few months away, the ruling Bharatiya Janata Party (BJP) government helmed by Adityanath has sought to provide liberal doses of funds to all the key sectors, especially agriculture, health, education, energy, social welfare department to keep the electorate in good humour.

The government has also provided adequate funds for infrastructure and its flagship projects to ensure civil works are not affected since the model code of conduct would come into force once the dates for the Lok Sabha elections are announced.

Meanwhile, the state has provided nearly Rs 600 crore for the setting up and maintenance of cow shelters in the urban and rural areas of the state.

Addressing the media after the Budget was tabled in the UP assembly by finance minister Rajesh Agarwal, CM Adityanath noted the Budget carried forward the theme of ‘sabka saath, sabka vikas’ as coined by Prime Minister Narendra Modi in...read more

→News Source:BS/Business Standard←